511 NE 82nd Ter · Miami, FL 33138

$1,800,000

8 bd · 8.0 ba · 5,926 sqft · MultiFamily public records · 25 Days on market

Built 1959 Fair condition 9,000 sqft lot

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Why this score? — see what drove the B- grade

The composite is a weighted blend of 9 inputs, each scored 0–100. Each bar is that input's sub-score; the figure is the points it added to the 100-point composite (weight × sub-score).

• Cash flow +30.0/30.0
• DSCR +10.0/10.0
• 1% rule +8.1/10.0
• ARV discount +7.5/15.0
• Schools +4.2/10.0
• Livability +3.9/5.0
• Rent growth +2.6/5.0
• Condition / age +2.2/5.0
• Appreciation +0.0/10.0

Multi-family units

County records classify this as Multi-Family (5+ Unit). Listing-text estimate: 1 unit. estimate disagrees with records

5+ unit building — per-unit beds/baths from public records are typically unavailable; the breakdown below (if shown) is an estimate from the listing text.

Listing remarks

Buy now to rebuild many floors of apartments now or in the future. Two-story property half block west of Biscayne Blvd features 8 apartments, 6 units with 1 bedrooms and 1 bathroom, and 2 units with 2 bedroom and 1 bathroom. According to City of Miami zoning and municipal planning amendments for this exact corridor (NE 82nd Street and NE 82nd Terrace, just west of Biscayne Boulevard), the properties are designated as T5-R (Urban Center - Restricted) Great location for new construction or remodeling for increasing rents.

Key facts

• 9,000 sq ft lot
• Listed 25 days

Property features AI

Finance

• Other: Annual tax amount $17,112 (tax year 2025)
• Financial info: Gross scheduled income approximately $130,400

Exterior

• Utilities: Cable available; Electricity available; Sewer available; Public water available
• Home design: Multi-unit property
• Construction: Zoning code 4600
• Exterior features: Publicly maintained paved road access; Lot less than one acre; Lot dimensions approximately 101 x 86

Interior

• Interior features: Property listed as a multi-unit

What this means for you Summary

Snapshot

• This is a 8-bed/8.0-bath multifamily listed at $1.80M. Condition is rated fair.

Deal economics

• At list price, monthly cash flow is $7k ($80k/yr) — positive.
• The deal already cash-flows at list — no discount required.
• Meets the 1% rule at list price ($24k rent vs $1.80M).
• Recommended offer: $1.77M (1.5% below list) — sets the bar for market timing.
• Cap rate 11.0% vs local median 1.9% in Miami — top-decile yield for the area; either an underpriced asset or a hidden risk that comps aren't pricing in. Stress-test before assuming the spread holds.

Location & tenants

• Location reads 78/100 on livability (#177 in FL, #2,724 nationally) — a middle-class / working-renter tenant base. Strengths: amenities A+, commute A+, health & safety A+; Watch: employment C-, crime F, cost of living F.
• Miami-Dade (suburban): math 45% / reading 54% proficiency, ranked #40 of 73 in FL (top 55%) — families likely to look elsewhere, expect single-tenant / working-renter base with shorter leases; 64% free/reduced lunch — lower-income household profile, screen leases tightly.
• Zoned schools: Phyllis R. Miller Elementary School (math 45% / reading 38%, grade F, #1,437 of 2,144 statewide, top 68%, 503 students, 70% FRL); Horace Mann Middle School (math 23% / reading 31%, grade F, #497 of 571 statewide, top 88%, 528 students, 76% FRL); Miami Edison Senior High School (math 19% / reading 15%, grade F, #597 of 667 statewide, top 90%, 623 students, 72% FRL).
• Zoned-school proficiency averages 28% at this address vs 50% district-wide (-21 pts) — the specific schools serving this property underperform the Miami-Dade average; the district grade overstates school quality for this exact location.
• Market conditions: Rents flat; 369 active listings in the ZIP; 2 comparable units currently listed for rent nearby; solid renter incomes; 10,051 units permitted in Miami-Dade County in 2024 (7,758 in 5+ unit buildings).
• At $23,643/mo this rent would consume 378% of the median local household income ($75k/yr) (locally 2049% of renters already pay >50% of income on rent) — very limited rent-growth headroom before tenants either downsize or default.

Forward outlook

• Local home prices are declining (-3.0%/yr); year-one equity from $12k of loan paydown is wiped out by about $54k of value loss. Plan a longer hold.
• Miami-Dade County population projected at +28% by 2050 — long-run rental-demand tailwind backs the buy-and-hold thesis.

Negotiation context

• It's been on market 25 days — a 2% lower offer ($1.77M) is reasonable based on typical stale-listing flexibility.

Risks & watch-outs

• Watch-outs: flood insurance adds $427/mo; built in 1959 — expect roof / HVAC / electrical / plumbing capex.
• Climate carrying-cost: in FEMA flood zone AE (mandatory federal flood insurance); severe wind risk, 99% chance of damaging wind over 30y; extreme-heat days projected 7→29/yr by 2055 (HVAC capex compounding) — expect insurance premiums to compound above CPI over the hold.

Recommended offer $1,773,000 (1.5% below list)

Questions for the listing agent

1. Have any recent inspections been done? Can we get a copy of the seller's disclosures and any deferred-maintenance estimates?
2. Built in 1959 — when were the roof, HVAC, electrical panel, plumbing, and water heater last replaced?
3. What's the actual annual flood-insurance premium (NFIP or private), and is the property in a SFHA with mandatory coverage?
4. Is there a deadline driving the sale (1031 exchange, divorce, estate, relocation)? That informs how much negotiation room exists.
5. Schools are B-rated — typically a magnet for longer-tenancy family renters. What's the average tenant stay here, and is there a school-zone premium baked into asking?
6. Crime grade is F in this area — have there been break-ins, vandalism, or insurance claims at this property in the last 3 years? What carrier currently insures it and at what premium?
7. What's the average days-on-market for RENTAL listings here right now (not sales)? A rising rental-DOM trend means longer vacancies and softer asking-rent achievability than the comps imply.
8. What's the recent tenant-quality profile in this submarket — average credit score on applications, eviction rate, late-payment / NSF rate, and stable-employment percentage? A property-management company in the area should have these aggregated.
9. How much new apartment / multifamily construction is in the pipeline within 1–3 miles? Heavy new supply (>2% of stock underway) typically softens rents 12–24 months out; light construction supports rent growth.

Investment metrics

• 1% rule: 1.31% ✓
• Cap rate: 11.00%
• Cash-on-cash: 16.82%
• DSCR: 1.75
• GRM: 6.3

CMA / ARV

No comps found within radius.

Projected returns pro-forma

-3.0% appreciation · 0.33% rent growth · sell at horizon

5-year hold

• IRR: 3.7%
• Equity multiple: 1.14×
• Total profit: $69,219
• Equity at exit: $268,386

10-year hold

• IRR: 10.5%
• Equity multiple: 1.72×
• Total profit: $364,307
• Equity at exit: $155,631

Cash invested: $504,000 (down + closing). Projections, not guarantees.

Landlord ↔ Tenant lean methodology

• Overall (STATE): 87 Strongly Landlord-Friendly
• State Florida: 87 Strongly Landlord-Friendly · R+3
• County: — inherits STATE
• City: — inherits STATE

3-day pay-or-quit; preempts local rent control; landlord-friendly statutes. Court speed varies by county.

Methodology + full state rankings →

ZIP-level market 33138

• Rents YoY: 0.3%
• Active inventory: 369
• Price-to-rent: 53.2×

Monthly cashflow live

• Estimated rent: $23,643 medium
• Mortgage (P&I): −$9,439
• Tax from tax record: −$1,426 /mo · $17,112/yr
• Insurance: −$750
• Flood insurance flood zone: −$427 /mo · $5,118/yr
• HOA: −$0
• Vacancy / Maint / Mgmt: −$4,965
• Net cashflow: $6,636

Break-even live

Break-even rent $15,243

Max offer price $1,800,000

Occupancy floor 67%

Sensitivity live

Price	-10% $7,655	-5% $7,145	+0% $6,636	+5% $6,127	+10% $5,617
Rent	-10% $4,768	-5% $5,702	+0% $6,636	+5% $7,570	+10% $8,504
Rate	-1.0pp $7,542	-0.5pp $7,094	base $6,636	+0.5pp $6,170	+1.0pp $5,695

8-unit breakdown (identical units grouped — click to expand)

Units	Beds	Baths	Est. rent
▸ 6× units	1	1	$16,908
▸ 2× units	2	1	$6,732
Total (8 units)			$23,643

UW: 25.0% down · 7.5% · 30yr · 1.5% tax · 5.0% vac · 8.0% maint · 8.0% mgmt

Financing live

Cash to close

• Down payment: $450,000
• Closing costs: $54,000
• Reserves months: —
• Total cash needed: —

Rent comps 2 comps

Address	Beds	Baths	Sqft	Rent	$/sqft	DOM	Units	Dist
922 NE 78th St Miami, FL	7.0	10.5	8107	$55,000	$6.78	26d	1	0.59mi
922 NE 78th St Miami, FL	7.0	10.5	8107	$55,000	$6.78	3d	1	0.59mi

Listing history 15 events

1. 2026-06-21
   days on market $1,800,000 Active 25 DOM
2. 2026-06-18
   days on market $1,800,000 Active 22 DOM
3. 2026-06-17
   days on market $1,800,000 Active 21 DOM
4. 2026-06-16
   days on market $1,800,000 Active 20 DOM
5. 2026-06-15
   days on market $1,800,000 Active 19 DOM
6. 2026-06-13
   days on market $1,800,000 Active 17 DOM
7. 2026-06-09
   days on market $1,800,000 Active 13 DOM
8. 2026-06-08
   days on market $1,800,000 Active 12 DOM
9. 2026-06-07
   days on market $1,800,000 Active 11 DOM
10. 2026-06-04
    days on market $1,800,000 Active 8 DOM
11. 2026-06-03
    days on market $1,800,000 Active 7 DOM
12. 2026-06-02
    days on market $1,800,000 Active 6 DOM
13. 2026-06-01
    days on market $1,800,000 Active 5 DOM
14. 2026-05-31
    days on market $1,800,000 Active 4 DOM
15. 2026-05-26
    listed $1,800,000 Active

ⓘ Source: listings_history table (triggers on properties + properties_extension) + one-shot backfill from property_details.listing_events for pre-trigger history.

Tax reassessment forecast FL · Resets to sale price

• Current annual tax: $17,112 · $1,426/mo
• Projected year-2 tax: $17,112 · $1,426/mo
• Expected delta: $0/yr ($0/mo · 0.0%)

ⓘ Screening estimate from a state-policy table — verify with the county assessor before closing.

Climate risk First Street

• 🌊 Flood 7/10 Severe FEMA zone AE · 75% chance over 30 yrs
• 🔥 Wildfire 1/10 Low
• 🌡 Heat 10/10 Extreme 7 d/yr ≥103°F today · 29 d/yr by 30 yrs out
• 💨 Wind 10/10 Extreme 99% chance of damaging wind over 30 yrs
• 🫁 Air quality 2/10 Low 1 unhealthy d/yr today · 2 by 30 yrs out

Taxation est. · year 1

• Rental income: $283,716
• − Mortgage interest: −$100,828
• − Property taxes: −$17,112
• − Insurance: −$14,118
• − Repairs & maintenance: −$22,697
• − Management: −$22,697
• − Depreciation: −$52,364
• Taxable income: $53,899
• Est. tax owed @ 24.0%: −$12,936
• After-tax cash flow: $66,696/yr

For passive investors: Depreciation is non-cash, so a rental often shows a tax loss while cash-flowing — sheltering income. Rental losses are passive: they offset passive income freely, and up to $25,000/yr can offset ordinary (W-2) income if you actively participate and your MAGI is under $100k (phasing out to $0 by $150k); unused losses carry forward. On sale, claimed depreciation is recaptured at up to 25%, and gains may owe capital-gains tax (a 1031 exchange can defer both). Figures are a year-1 estimate at your 24.0% rate — not tax advice; consult a CPA.

Condition & rehab AI · 12 photos

Fair 45/100 Moderate rehab

This multi-family property requires extensive repairs and maintenance, including roof replacement, exterior painting, HVAC system upgrade, and landscaping improvements. These updates would significantly increase its resale and rental value.

Repairs flagged

• Major roof — The roof appears to be in poor condition, with visible wear and tear.
• Major exterior siding — The exterior siding and paint show significant wear and tear.
• Major flooring — The flooring appears to be in poor condition, with visible wear and tear.
• Major interior walls/paint — The interior walls and paint show significant wear and tear.
• Major windows — The windows appear to be in poor condition, with visible wear and tear.
• Major foundation/structure — The foundation and structure appear to be in poor condition, with visible wear and tear.
• Major HVAC/mechanicals — The HVAC and mechanical systems appear to be in poor condition, with visible wear and tear.
• Major landscaping — The landscaping and curb appeal appear to be in poor condition, with visible wear and tear.

Value-add opportunities

• Both roof replacement — A new roof would significantly increase the property's value and make it more attractive to buyers and renters.
• Both exterior painting — A fresh coat of paint would improve the property's curb appeal and make it more attractive to buyers and renters.
• Both HVAC system upgrade — An upgraded HVAC system would improve the property's comfort and energy efficiency, making it more attractive to buyers and renters.
• Both landscaping and curb appeal — A well-maintained and attractive landscaping would improve the property's curb appeal and make it more attractive to buyers and renters.

Renovation cost estimate screening

Repair item	Severity	Est. cost
roof · The roof appears to be in poor condition, with visible wear and tear.	Major	$15,000–50,000
exterior siding · The exterior siding and paint show significant wear and tear.	Major	$15,000–50,000
flooring · The flooring appears to be in poor condition, with visible wear and tear.	Major	$15,000–50,000
interior walls/paint · The interior walls and paint show significant wear and tear.	Major	$15,000–50,000
windows · The windows appear to be in poor condition, with visible wear and tear.	Major	$15,000–50,000
foundation/structure · The foundation and structure appear to be in poor condition, with visible wear and tear.	Major	$15,000–50,000
HVAC/mechanicals · The HVAC and mechanical systems appear to be in poor condition, with visible wear and tear.	Major	$15,000–50,000
landscaping · The landscaping and curb appeal appear to be in poor condition, with visible wear and tear.	Major	$15,000–50,000
Total estimated repair cost · 8 items		$120,000–400,000

Value-add ROI direction

• Both roof replacement — A new roof would significantly increase the property's value and make it more attractive to buyers and renters. ↑
• Both exterior painting — A fresh coat of paint would improve the property's curb appeal and make it more attractive to buyers and renters. ↑
• Both HVAC system upgrade — An upgraded HVAC system would improve the property's comfort and energy efficiency, making it more attractive to buyers and renters. ↑
• Both landscaping and curb appeal — A well-maintained and attractive landscaping would improve the property's curb appeal and make it more attractive to buyers and renters. ↑

ⓘ Cost ranges are severity-bucket heuristics (US national rule-of-thumb). Get contractor quotes + a written scope before underwriting a rehab budget.

Schools (NCES district)

• District: Miami-Dade
• NCES district ID: 1200390
• Math proficiency: 45% ▼ -16.00%
• Reading proficiency: 54% ▼ -5.00%
• Median HH income: $43,928
• Composite: 41.76/100
• National rank: #3397
• State rank: #40 of 73 in FL

Livability — Miami

• Score: 78/100
• State rank: #177
• US rank: #2724

Category grades

Amenities A+ Commute A+ Cost of living F Crime F Employment C- Housing B- Health & safety A+ User ratings C

Schools grade is shown separately in the Schools card above.

Census & demographics

• Census place: Miami, FL
• County: Miami-Dade County · 2,697,751 people
• City population: 827,308
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• Population (ZIP): 28,980
• Household income: $75,051
• Rent vs Own: 52.2% rent · 47.8% own
• Severe rent burden: 2049.0

Population outlook (Miami-Dade County) Hauer SSP2

• Today (2025): 3,126,439 people
• By 2030: 3,325,765 · +6.4%
• By 2040: 3,697,561 · +18.3%
• By 2050: 4,012,134 · +28.3%
• By 2075: 4,605,612 · +47.3%
• By 2100: 4,866,598 · +55.7%

Race, ethnicity, and origin ACS 2023

• Neighborhood character: Highly diverse neighborhood (Simpson 0.70)
• Race & ethnicity: Hispanic / Latino 36% White 29% Black 29% Two or more races 21% Asian 1%
• Hispanic origin (detail): Puerto Rican 3% Cuban 11% Dominican 2% Salvadoran 3%
• Common ancestry: Hispanic 16% Estonian 2% Lithuanian 2%
• Foreign-born: 41% · Canada, Jamaica, Dominican Republic
• Languages at home: 36% English-only · Spanish 39% French/Haitian/Cajun 19% Other Indo-European 4%

Political lean MEDSL · Miami-Dade

• 2024 margin: R (+11.4) · D 43.9% · R 55.4%
• 2008→2024 swing: -27.6pp toward R · 2008: 16.1pp · 2024: -11.4pp
• All cycles: 2024: R+11.4 2020: D+7.3 2016: D+29.6 2012: D+23.7 2008: D+16.1

Not yet ingested

• Civics: —

Market trends

• HPI YoY: ▼ -890.01%
• Current HPI: 551.4791
• Rent YoY: ▲ 0.33%
• Metro: Miami-Fort Lauderdale-Pompano Beach, FL
• State GDP YoY: ▲ 3.28%
• F500 in state: 36

Industry mix (Fortune 500 HQ in FL)

Industry	F500 HQs	Revenue
▸Industrial Technology	2	$29B
▸Insurance	2	$17B
▸Retail	1	$60B
▸Technology Distribution	1	$58B
▸Homebuilding	1	$35B
▸Technology Manufacturing	1	$35B

Price history

1 event — show timeline

• 2026-05-26 Listed $1,800,000 MARMLS

Property tax history

+19.7%/yr

Latest (2025): $17,112 · +5.0% YoY. Source: county tax records.